Molson Coors Beverage (NYSE:TAP) Shares Purchased by C M Bidwell & Associates Ltd.

C M Bidwell & Associates Ltd. lifted its holdings in Molson Coors Beverage (NYSE:TAP) by 60.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,655 shares of the company’s stock after purchasing an additional 2,135 shares during the period. C M Bidwell & Associates Ltd.’s holdings in Molson Coors Beverage were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TAP. Truvestments Capital LLC raised its stake in shares of Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the period. Catalyst Capital Advisors LLC increased its holdings in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares in the last quarter. SRS Capital Advisors Inc. raised its position in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares during the period. Private Trust Co. NA lifted its holdings in Molson Coors Beverage by 53.1% during the fourth quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after purchasing an additional 276 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Molson Coors Beverage by 101.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 973 shares of the company’s stock valued at $56,000 after purchasing an additional 489 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TAP shares. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price target for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays lowered their target price on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, UBS Group increased their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.60.

Molson Coors Beverage Trading Down 0.7 %

Shares of Molson Coors Beverage stock opened at $60.52 on Monday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.52 and a beta of 0.81. The stock has a 50 day moving average of $58.11 and a 200 day moving average of $57.72.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.